In part three of our series to uncover the digital fabric that is social media and look at each platform from a business perspective to help you get a measurable result for your brand, we take a look at YouTube.

Created by three former PayPal employees in February 2005, Google acquired YouTube for $1.65 billion in 2006.

YouTube is about rich, interesting content rather than rich video productions.

This makes it an ideal medium for small to medium-sized business, according to Sydney-based social media consultant Laurel Papworth. Although Australia in general is behind the US in using Web 2.0 applications, small businesses are warming to idea of affordably-made YouTube clips.

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